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The '''misery index''' is an economic indicator that adds the [[unemployment]] rate to the [[inflation]] rate. Created by economist [[Arthur Okun]], the index is based on the assumption that both a higher rate of unemployment and a worsening of inflation both create economic and social costs for a country. A combination of rising inflation and more people of out of work implies a deterioration in economic performance and a rise in the misery index.
The '''misery index''' is an economic indicator that adds the [[unemployment]] rate to the [[inflation]] rate. Created by economist [[Arthur Okun]], the index is based on the assumption that both a higher rate of unemployment and a worsening of inflation both create economic and social costs for a country. A combination of rising inflation and more people of out of work implies a deterioration in economic performance and a rise in the misery index.
During the Presidential campaign of 1976, [[Democratic Party|Democratic]] candidate, [[Jimmy Carter]], made frequent references to the misery index, which by the summer of 1976 was at 13.57%. Carter stated that no man responsible for giving a country a misery index that high, had a right to even ask to be [[President of the United States]]. He won the 1976 election. However, by 1980, when President Carter was running for re-election against [[Ronald Reagan]], the misery index had reached an all-time high of 21.98%. Carter lost the election to Reagan in a landslide.
During the [[United States presidential election, 1976|Presidential campaign of 1976]], [[Democratic Party|Democratic]] candidate, [[Jimmy Carter]], made frequent references to the misery index, which by the summer of 1976 was at 13.57%. Carter stated that no man responsible for giving a country a misery index that high, had a right to even ask to be [[President of the United States]]. He won the 1976 election. However, by 1980, when President Carter was running for re-election against [[Ronald Reagan]], the misery index had reached an all-time high of 21.98%. Carter lost the election to Reagan in a landslide.
==Trivia==
==Trivia==